BlackRock Adds Cash-Like ETF to $139 Billion Treasuries Lineup

(Bloomberg) -- BlackRock is starting a fund targeting some of the shortest-dated Treasuries.

The iShares 0-3 Month Treasury Bond ETF invests in securities maturing in three months or less and begins trading Thursday on the NYSE Arca exchange under the ticker SGOV, according to a statement. The new fund helps round out BlackRock’s Treasury ETF lineup, which now spans nearly every maturity segment on the U.S. yield curve.

Fixed-income ETFs have attracted almost $59 billion in inflows so far this year as investors sought shelter amid the coronavirus pandemic, according to data compiled by Bloomberg. BlackRock’s iShares iBoxx $ Investment Grade Corporate Bond ETF is at the top of the leaderboard, with State Street’s ultra-short offering -- the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF -- in second place.

BlackRock manages roughly $139 billion in Treasury-focused ETFs across 19 products. BlackRock’s $29.3 billion iShares Short Treasury Bond ETF, which invests in securities maturing in a year or less, is the largest Treasury-focused ETF.

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